If you watch the news, you’ve almost certainly seen reports that extreme weather events are on the rise. And you’ve probably heard that there are more road accidents caused by driving distractions like texting.

The fact is that the frequency and severity of home and auto insurance claims is increasing and it’s having a direct impact on the insurance premiums we all pay.

However, there are things you can do to reduce your premium.

Auto insurance

Whether you’ve had auto insurance for years or you're shopping for your very first insurance policy, here are a few helpful tips that can help you save.

Be a safe driver

The better your driving record, the lower your premium. If you have several speeding tickets, claims and at-fault accidents on your record, there’s no doubt you’ll pay more for insurance.

Increase your deductible

A deductible is the amount you pay when you make a claim. The higher your deductible, the lower your insurance premium. But before you choose a high deductible, make sure you’re comfortable paying that amount in the event of an accident.

If you have an older car, you might want to rethink the coverages on your policy. Removing Collision or upset and Comprehensive coverage could be cost-effective if your vehicle isn’t worth much more than the deductible you pay for these coverages.

Choose a car with lower insurance rates

Generally speaking, the older the car, the lower the premium. It’s also worth knowing that some models are more likely to be stolen, while others cost more to repair. Before you buy or lease your next car, inquire about which cars are cheaper to insure.

Choose an eco-friendly vehicle

Not only will you save on gas, you could also get a discount on your insurance. For example, if you drive a hybrid vehicle, many insurers offer premium discounts, like our Hybrid Vehicle Savings.

Insure more than one vehicle or insure your home and car with the same company

Almost all insurance companies offer this type of discount. These savings bundles can have different names like Multi-Vehicle discount, Multi-Line discount or multi-product discount.

Home insurance

Whether you rent an apartment, or you own a house or a condo unit, it’s usually less expensive to insure your home than your car. But there are still ways to save. Here are our tips:

Install a home security system

This is a guaranteed way to save on your premium, no matter who you’re insured with. . If you’re insured with us and you have a centrally-monitored alarm system, you’ll save on your home insurance.

Be claims free

Just like with car insurance, if you have no recent home insurance claims, you’ll enjoy lower premiums.

Buy car and home insurance from the same company

By bundling your insurance, you could be eligible for a Multi-Line discount and free services such as legal assistance.

Keep your home smoke free

Having a smoke-free environment at home significantly decreases the risk of fire. You’ll also enjoy lower insurance rates.